AJOVista LLC Makes New Investment in Occidental Petroleum Co. (NYSE:OXY)

AJOVista LLC purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,039 shares of the oil and gas producer’s stock, valued at approximately $122,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Everhart Financial Group Inc. increased its holdings in shares of Occidental Petroleum by 2.3% during the third quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock worth $484,000 after purchasing an additional 169 shares during the period. PFG Investments LLC raised its holdings in Occidental Petroleum by 2.7% in the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock valued at $417,000 after acquiring an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC lifted its position in shares of Occidental Petroleum by 1.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 174 shares during the period. Conning Inc. grew its holdings in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after purchasing an additional 180 shares in the last quarter. Finally, Donoghue Forlines LLC increased its position in shares of Occidental Petroleum by 2.2% in the third quarter. Donoghue Forlines LLC now owns 8,971 shares of the oil and gas producer’s stock worth $582,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.4 %

Shares of NYSE:OXY traded down $0.27 during trading on Friday, reaching $64.39. The stock had a trading volume of 6,771,518 shares, compared to its average volume of 7,759,409. Occidental Petroleum Co. has a 52 week low of $55.12 and a 52 week high of $71.18. The firm’s fifty day moving average is $64.80 and its 200 day moving average is $61.42. The stock has a market cap of $57.08 billion, a price-to-earnings ratio of 16.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the business posted $1.61 EPS. The business’s revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.51%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on OXY shares. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Mizuho lifted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Susquehanna upped their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Stephens reissued an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Finally, Truist Financial raised their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.